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A BILL TO BE ENTITLED
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AN ACT
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relating to the amendment of an existing comprehensive development |
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agreement for State Highway 130. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 223.208, Transportation Code, is amended |
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by adding Subsections (h-1), (h-2), and (h-3) to read as follows: |
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(h-1) Notwithstanding Subsection (h), a comprehensive |
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development agreement entered into on or before March 22, 2007, for |
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State Highway 130 from U.S. Highway 183 to Interstate Highway 10 |
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(Segments 5 and 6) shall be amended to extend the term of the |
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comprehensive development agreement for an additional 20 years if |
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the amendment: |
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(1) outlines the benefit the state will derive from |
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extending the term of the agreement; and |
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(2) requires the private participant to provide funds |
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to the department in an amount agreed to by the department and the |
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private participant. |
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(h-2) The amount of funds provided by the private |
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participant under Subsection (h-1)(2) shall take into account a |
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traffic and revenue study using: |
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(1) toll escalation rates consistent with the |
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comprehensive development agreement described in Subsection (h-1) |
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and calculated based on |
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(A) the most recent gross state product forecasts |
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published by the Texas State Comptroller; and |
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(B) third-party market-based inflation forecasts |
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produced by a nationally recognized government agency or financial |
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institution; and |
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(2) transaction growth rates based exclusively on: |
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(A) transaction growth rates for the facility |
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described in Subsection (h-1) since 2015; |
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(B) population growth forecasts of the counties |
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in which the facility described in Subsection (h-1) is located, |
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prepared by the metropolitan planning organizations in which the |
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facility is located; and |
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(C) long-term demographic forecasts based on the |
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most recent state population forecasts published by the Texas Water |
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Development Board. |
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(h-3) The department shall use funds received under |
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Subsection (h-1)(2) to finance the construction, maintenance, or |
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operation of transportation projects on the state highway system. |
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SECTION 2. This Act takes effect September 1, 2021. |